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Leighton woes hit Hochtief

Leighton is expected to cut its profit forecast for a Canada Goose Online second time this year, analysts said, after Australia top contractor sought a trading halt on its shares pending an update on its guidance.Hochtief said it expected a knock on effect on its own business, resulting in significant adverse effects on its outlook for the year.German brokers said the drop should be limited Canada Goose Parka as canada goose uk black friday suitor buy canada goose jacket ACS would use the opportunity to Canada Goose Outlet snap up shares in a bid to build a stake of more than 50 percent of Hochtief.In February, ACS stake in Hochtief passed the 30 percent threshold, allowing the Spanish builder to raise its holding further without another mandatory bid. [ID:nLDE7120AI]ACS wants Hochtief to help it diversify canada goose uk outlet away from Spain struggling construction sector, and Leighton was seen as the main prize in any deal.was always one of the things that made Hochtief appealing to ACS. A profit warning would be a mixed blessing, said an analyst in Germany who asked not to be named.An ACS spokeswoman told Reuters cheap canada goose uk last week that Canada Goose Coats On Sale the Spanish group uk canada goose outlet headed by Real Madrid soccer club president Florentino Perez now held 41 percent of Hochtief.Hochtief shares have gained Canada Goose sale more then 20 percent in value since ACS first mentioned the possibility of bidding for the company in September as it sought to compensate for its domestic exposure and relieve buy canada goose jacket cheap pressure from its 8 billion euro debt pile.At the current share price of 71 euros, it would cost ACS almost 500 million euros to reach 50 percent. [ID:nLDE72U1UU]HEFTY PENALTIES Analysts in Australia said canadian goose jacket Leighton new profit downgrade was likely to be significant given Leighton put its shares on a halt Canada Goose online for up to two trading days.obviously material, said an analyst who declined to be quoted ahead of the company update.Leighton is facing delays on its two canada goose black friday sale biggest projects, the A$4.2 billion Airport Link road in Brisbane and a A$3.5 billion desalination plant near Melbourne.The company first trimmed its full year profit forecast in February to a net profit of around A$480 million, after floods in Queensland and Victoria hit work on its projects.With the company having flagged potential issues in February, the market consensus for Leighton profit for the year to June 2011 is about 10 percent below Leighton forecast, at canada goose uk shop A$429 million, according to Thomson Reuters I/B/E/S.Other factors that could dent its outlook include further cheap Canada Goose writedowns on its Al Habtoor uk canada goose Leighton construction joint venture in the Middle East and the final outcome on the sale of a stake in its Indian business, analysts and fund managers said.Leighton wrote down the book value of its stake canada goose factory sale in Al Habtoor Leighton by 11 percent in February to A$845 million.Leighton shares closed on Wednesday at A$28.94, down 1.6 percent, after canada goose a newspaper said the desalination plant contractor faced hefty penalties as the project was canada goose clearance sale six to 12 months behind schedule.Leighton does cut its outlook, Hochtief earnings before tax goal of 1 billion euros ($1.43 billion) may well have to be cut by 10 20 percent, said canada goose clearance a Frankfurt based analyst, who declined to be named.Hochtief said there was no sign canada goose store that its forecasts for 2012 and 2013 would be affected by Leighton woes. It canadagooseoutlet4online said it expected more canadagooseoutlet4online.com specific information to be canada goose coats available once Leighton had finished reviewing its outlook, no Canada Goose Jackets later canada goose coats on sale than April 11. (Editing by Balazs Koranyi, Vinu Pilakkott and Ben Hirschler).